The University of Colorado Board of Regents recently approved the school system’s $6.28 billion budget for the upcoming school year.

The budget, which represent a 3.5% increase, covers all of the system’s four campuses.

The system serves a total 66,000 students and 7,300 full-time instructional faculty members.

Of the total, $2.2 billion will go toward teachers and education services, $1.5 billion to clinical health care and over $1.1 billion to research activities, university officials said in a news release.

Officials said the budget accounts for salaries, increased benefits for staff and faculty, student financial aid and deferred facility maintenance and campus budget initiatives.

In a statement, CU President Todd Saliman said the budget “allows us to keep tuition in check for students and their families while also investing in our faculty and staff.”

Approved by the board in April, CU tuition is increasing 3% at CU Denver and CU Colorado Springs. Boulder undergraduate students won’t see a tuition increase this year, while resident undergraduate nursing students at the CU Anschutz Medical Campus will see a 1.9% tuition hike, according to university officials.

University officials noted that the state government increased its allocation for higher education by $107 million, of which CU will get $30.1 million. The state also increased financial aid for students by $23.1 million, of which $5.8 million would go to CU.

“We’re grateful to state leaders for their increase in funding for higher education this year, which allows us to deliver on our mission of excellence in education, research and health care,” Saliman said.